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Sellers Are Going Through The Five Stages Of Grief

A report from the Daily Interlake in Montana. “‘The median home price in Kalispell is at $525,000, which is down from what it was a couple of months ago when it was in the six hundreds,’ says Erica Wirtala, Public Affairs Director for Northwest Montana Realtors Association. ‘I think Whitefish has fallen a bit, they were at a median home price of over a million. Now they’re at about $840,000 — and that’s for a two bedroom two bath — that’s just your average median house.'”

“In resort towns like Bigfork and Whitefish, the price jump is more significant. In June of 2020, the median home in Bigfork sold for $363,000, that price nearly tripled at its peak in April of this year at around $1.1 million. In Whitefish, the median price was $425,000 in June of 2020 and peaked in August of this year at just over $1 million. These high prices have started to fall since their peak— now most places sit with a median home sale price of between $500,000 to $800,000.”

“David Boye, a broker with Black Diamond Mortgage in Whitefish, said people who had a hard time getting a loan might have a better chance of finding someone who will work with them. ‘If you had credit challenges, you might not have been able to find a loan officer that was willing to help you get a loan in 2021,’ he said. But as the market changes that may be beneficial for those prospective homeowners who had a harder time obtaining a loan. ‘Obviously, everything is probably a little bit worse (than before the boom) but the desire to work together is there for me to work with them and desire for them to put the work in,’ Boye said.”

From New Jersey.com. “‘When you look at the inventory that’s out there, a lot of it is new home starts,’ said Robert White, president of New Jersey Realtors and a broker with Coldwell Banker Spring Lake. He said a new adult community in Howell, where properties were listed at $849,000, this month were being offered for $720,000 if the buyer can close by Oct. 31. ‘I think you’re going to start seeing that in a lot of these communities,’ White said. ‘When they build in phases, as they sell homes, they typically raise prices by a certain percent. Now, they’re forced to reduce prices back to Phase 1 if they’re in Phase 3.'”

“The New Jersey town with the highest months supply of homes is Alpine, in Bergen County, where the median price of a home is $4.04 million and they sell in about 150 days, according to Redfin data. ‘Alpine doesn’t have a lot of homes to begin with, so when you do percentages its always going to feel like it’s more,’ said Michael Kolsky of Coldwell Banker, adding that there are between 800 and 900 homes total in Alpine. ‘Some of it is the houses are not priced right. Some of it is location,’ Kolsky said. ‘A lot of homes in Alpine that are on the market have received offers that were not accepted. They just weren’t satisfactory to the owner.'”

Bangor Daily News. “Profits for home sellers are falling in Maine and nationally at the fastest rate in three years. In the hot Portland and South Portland real estate market, the median sales profit on a single-family home or condo declined 3.9 percent from the second to the third quarters of this year. Home sales decreased by 11.7 percent for the three-month period ending Aug. 31. And in August the median sales price of $340,000 was down 9.9 percent from July.”

The Herald Mail. “‘We are seeing a market slow down right now,’ Heather Weeks, President of Pen-Mar Realtors, wrote. ‘Some of that is seasonal, as we head into the winter months. However, there are also a lot of potential buyers who can’t afford the cost of higher mortgages. The local market is beginning to feel the pinch of higher interest rates. The looming threat of more rate hikes is causing anxiety within the housing industry. We’re heading into uncharted territory,’ Weeks wrote.”

The Real Deal on Florida. “Single-family home sales fell 59 percent in the town of Palm Beach to nine closings. Nearly a year of supply was left at the end of the third quarter, more than double that of the same period of last year. The median price actually fell 4 percent to $8.4 million.”

From USA Today. “What once seemed like it was as hot as lava, the U.S. housing market now seems to be cooling down pretty quickly. But why? Host James Brown sat down with veteran observers of the housing market and USA TODAY journalists Swapna Venugopal and Terry Collins to talk about the housing market and if what we are seeing is a buyer’s, seller’s or a weird neverland of in between.”

“Swapna Venugopal: So it’s sort of a calculation that people have to make. How long do I wait? Will the home prices actually stabilize? Will they reach a point in the near future where it’s not really going up year over year? And if that’s the case, once they buy, what happens when home values decline? Suddenly they have no equity in a year or so where people who bought two years ago would’ve built up so much equity. So that’s another thing they have to struggle with. Will they be wiped out by buying at the peak while the mortgage rates are so high? So it’s too many decisions to make and none of them easy, really.”

“Terry Collins: Yeah, yeah. And what if you’re a seller and just say you have a crisis or maybe you lost your job and you’re forced to sell your house and you have to sell it, you might have to do a short sale. You’re not going to get the value of what you thought the home was worth, but you need the money to survive or to just make ends.”

From KTLA TV. “Houses in California tend to be expensive, but one city is seeing a significant decline in home prices, according to a study from Realtor.com. Stockton, located in San Joaquin County in Northern California, was ranked as the 8th city to experience notable home price reductions. According to the website, the median home price in Stockton is $581,725, a 7.7% decrease from home prices in June.”

“Many home buyers from California, most notably in San Francisco, sold their houses during the pandemic and used that money for cheaper real estate in neighboring areas, the study found. The influx of people in those surrounding areas caused home prices to increase significantly. Adrian Rosas, a real estate agent in Stockton, told Realtor.com that a house sale of $400,000 fell through twice. The sellers took off an additional $20,000 to make the price seem more attractive for potential buyers, after initially lowering the price by $10,000.”

“Austin, Texas was ranked as the number one city experiencing declines in home prices. The median home price in the city is $558,275, which is 10.3% lower than where it was in June. Phoenix, Arizona ranked second on the list. Spokane, Washington was ranked 10th in the study. The median home price in the area is $449,900. The area saw a 7.4% price decrease since June.”

The Orange County Register. “Mortgage rates have risen at the fastest pace in decades. Buyers either are moving to the sidelines or are priced out altogether, causing price drops in expensive markets like California. ‘We’re in the midst of a housing resetting,’ said Lisa Sturtevant, chief economist for the Bright MLS, one of the nation’s largest multiple listing services. ‘Sellers are definitely resetting their price expectations. Slowly. They’re going through the five stages of grief. They’re understanding that market conditions are changing. But many times, sellers are still trying to overreach on price.'”

“Where will price drops most likely occur? ‘California will be a prime target for price declines,’ said Lawrence Yun, chief economist for the National Association of Realtors. ‘Whether it’s going to be a 5% or 10% price decline (is uncertain). But I think it’s most assured the California market, expensive areas will undergo some price adjustment.’ Yun noted that housing affordability — a measure of how many households earn enough to afford a home purchase — is at the lowest level since 2006. ‘We all remember what happened after (2006),’ Yun said. ‘(There was a) huge plunge in prices. Thirty percent across the board. … We are in a similar condition in terms of affordability.'”

Global News in Canada. “The real estate market in New Brunswick has started to show signs of cooling after two years of frequent record-setting. Sales statistics for September showed significant sales declines in each of the three large markets. In Saint John, home sales declined by 24.3 per cent compared to September of last year. For Greater Moncton and the Fredericton area, declines reached 34.5 per cent and 35.9 per cent, respectively.”

“‘Our folks and friends in Ontario who were selling their homes and basically coming to Atlantic Canada, Saint John no different, have not sold their homes, and basically, if they’re not selling their homes in Ontario, they’re typically not coming to buy here,’ said John McAloney, a long-time real estate agent in southeastern New Brunswick.”

From The Guardian. “Sydney’s property prices have fallen by more than 10% since their mid-February peak, shedding almost $450 a day in value on an average home, and leading other major markets lower, CoreLogic said. The 10.1% decline for home values in the harbour city so far comes as documents from the Reserve Bank of Australia indicate average property values may sink as much as 20% nationally from their recent highs by the end of 2024. That decline would be the steepest since the 1980s if realised. ‘A key risk is that housing prices fall by more than we expect,’ the RBA notes show.”

“Other cities reporting falling home values include Melbourne, where prices are down about 6.4% after beginning their retreat in mid-January. Brisbane’s falls are 6.1% from their mid-June zenith, while Adelaide and Perth have begun edging lower, easing about 1% from their August highs, CoreLogic said.”

The Daily Monitor on Uganda. “Businesses collapse and individuals lose homes to creditors as ravages of Covid-19 and associated lockdowns stir rising loan defaults, leading to properties advertised for auction in the first half of this year doubling numbers of similar pre-pandemic period. For instance, auctioneers between January and June 2022 advertised 2,076 properties in Daily Monitor for sale, nearly twice the 1,102 properties they advertised during first half of 2019.”

“The 2022 statistics translates to 346 properties being placed for sale a month, or 12 of them a day, this year. The imminent forfeitures, based on our analysis, show individual borrowers losing big and small assets, among them family homes, usually an acquisition using life-time savings. Mr Ismail Ssempijja, is a resident of Masaka, whose residential house and rental units are on verge of being sold. He sees no way out of the predicament.”

“A former textile dealer, Mr Ssempijja told this newspaper that ‘my family house and some of my rental houses were advertised…I have not been able to save them, I am stranded. I do not know what is going to happen, it is God to decide because the situation is too tough on my side,’ he said.”

“Mr Ssempijja acquired the loan at the beginning of 2020, hoping to boost his business. He was to pay back within two years. Then Covid happened. Months after taking the loan, the country went into lockdown to stem the spread of Coronavirus. Businesses were smothered, livelihoods extinguished. ‘My businesses collapsed. There is no money. I am engaging the bank, but all they want is the money. I would have paid if Covid had not disrupted us, this was not the first time I acquired a loan. I have always paid back promptly,’ he said.”

“While some debtors willingly shared their predicaments, majority we contacted were either outright hostile or simply turned down our requests for interview. ‘Why are you asking me why I defaulted on a loan? Is it any of your business?’ one angry defaulter said on the phone before dropping the call. Another responded, ‘Go and look for news elsewhere and leave me alone. I lost my home [after defaulting on a loan] and you are now asking me what went wrong. Really? So that you do what?’ Others declined to share their experiences that they characterised as ‘too painful’ as it had caused them ‘enough emotional distress.'”

“Mr Moses Waiswa, the managing director of Fairway Auctioneers, warned potential borrowers to scrutinise mortgage arrangements carefully if they do not want to fall into a trap and lose high-value assets. ‘Banks do not own money. Once you sign a mortgage agreement, know you have been trapped. Just read the adverts in your newspaper (Daily Monitor) and see the rate at which banks are disposing of property,’ he said.”

“Waiswa said he is stuck with properties given to him by banks to be auctioned, and the assets belong mostly to individuals and businesses that borrowed before the Covid lockdown. ‘Usually banks are not cooperative on the time limit, they do not give you time to settle your debt. They have put houses on the market but, unfortunately, there are no people buying the property because there is no money,’ he said.”

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This Post Has 106 Comments

  1. ‘they were at a median home price of over a million. Now they’re at about $840,000…In June of 2020, the median home in Bigfork sold for $363,000, that price nearly tripled at its peak in April of this year at around $1.1 million. In Whitefish, the median price was $425,000 in June of 2020 and peaked in August of this year at just over $1 million. These high prices have started to fall since their peak— now most places sit with a median home sale price of between $500,000 to $800,000’

    It’s a good thing everybody put 50% down!

  2. ‘He said a new adult community in Howell, where properties were listed at $849,000, this month were being offered for $720,000 if the buyer can close by Oct. 31. ‘I think you’re going to start seeing that in a lot of these communities,’ White said. ‘When they build in phases, as they sell homes, they typically raise prices by a certain percent. Now, they’re forced to reduce prices back to Phase 1 if they’re in Phase 3’

    How did you lose yer shack Grampa?

    I bought in Phase 2.

  3. ‘They’re going through the five stages of grief…California will be a prime target for price declines,’ said Lawrence Yun, chief economist for the National Association of Realtors. ‘Whether it’s going to be a 5% or 10% price decline (is uncertain). But I think it’s most assured the California market, expensive areas will undergo some price adjustment.’ Yun noted that housing affordability — a measure of how many households earn enough to afford a home purchase — is at the lowest level since 2006. ‘We all remember what happened after (2006),’ Yun said. ‘(There was a) huge plunge in prices. Thirty percent across the board. … We are in a similar condition in terms of affordability.’

    Lisa, Larry, as the last bull market believer, I say yer PERMA BEARS and are stopped clocks! Yer probably racists too, election deniers and a threat to democracy. A pox on yer shacks!

    1. We are in a similar condition in terms of affordability

      But only “forecasting” a 5% or 10% price decline.

  4. “Watch me” 10/24/22

    Oct 23, 2022
    @RNCResearch
    ·
    BIDEN on his student loan debt bailout: “It’s passed. I got it passed by a vote or two.”

    What is he talking about? Congress never voted on it.

    https://twitter.com/RNCResearch/status/1584325204485894144?s=20&t=cQinCUT_VWwAKkzDqzhQVw

    M · Oct 23, 2022
    @jacobkschneider
    ·
    Here is the full clip for all you clowns who say it’s out of context. Biden first falsely claims he “signed a law” to cancel student loan debt, then says he “got it passed by a vote or two.”

    ???????

    https://twitter.com/jacobkschneider/status/1584346085765525504?s=20&t=OagWwa0khcJBRY4XKOEEkg

    1. Congress passed the bill, and Pedo Joe signed it, so I’ll be getting my refund check soon, right?

      1. Refund? If you were responsible and paid off your loans … no soup for you!

        If you’re an orange haired freak who majored in victim studies and who hasn’t paid a penny back, Joetato has $10,000 for you.

        1. I thought it was interesting that you have to sign up to get the free cheese. Surely the gooberment knows who has student loans guaranteed by Uncle Sam.

  5. Whitefish is a pretty town. Even has a small lake beach. Did I mention it’s in the middle of Montana where the average job pays $20 a hour?

    ‘I think Whitefish has fallen a bit, they were at a median home price of over a million. Now they’re at about $840,000 —

    2. the middle of Montana where the average job pays $20 a hour?

      That’s only a recent development, if true. Montana has historically had the lowest wages in the US save only for Mississippi.

      I just checked and they have moved up to 40th, but again I suspect that to be a recent development, and one that won’t last long. Bottom line, Montana is a sh!thole when it comes to earning a living.

  7. A reader sent these in:

    Guy who’s company get’s $1m PPP “loan” forgiven buys $10m house

    https://twitter.com/GRomePow/status/1584226813064069120

    If you look closely at the listing, it’s an owner agent sale, open to selling fully furnished. Translation: I know what’s up and am trying to get ahead of the market and get out ASAP. #Airbnb

    https://twitter.com/texasrunnerDFW/status/1584192766631821312

    “Buckle in for a brutal free-fall in home prices & US housing is in a massive bubble, experts say”

    The MSM cheered on this latest housing bubble & convinced buyers to purchase at stupid valuations. Only now do they admit the obvious. Years too late 😡

    https://twitter.com/menlobear/status/1584196416087347200

    Will the recession impact high end STRs?

    YES

    Last weeks new STR booking revenue is the lowest I’ve seen in several years.

    Year over year booking numbers for last week.

    Last week: $38,767
    Same week last year: $196,848

    I can’t recall a week that’s been this low in years.

    https://twitter.com/markjenney/status/1584053487909806081

    The Ponzi Scheme:
    1. Use debt with high interest rates to buy cheap assets
    2. Argue we need lower rates to create growth
    3. Once we have growth, argue higher rates will harm growth
    4. Once we hit zero rates and bubble, argue higher rates will cause a recession and hurt the poor

    https://twitter.com/GRomePow/status/1584030164060581889

        2. Also notice the 10 reviews were June, July, August, September and one in October. It would be interesting to see how many new reviews pop up in the next few months even though booking(s) can easily be monitored.

        1. Sold for $2,760,000 on 06/15/21.

          At a glance that looks like a good deal as there are lots of amenities and a pole bldg shop with heavy concrete floor.

        2. Look at the Zillow map of sold properties. This house is an anomaly. A resident wouldn’t pay this price for this area and its assigned schools. A resident would be looking much further north in Poway. I know my zip code.

          2. if the zip code is for the dawgs

            The zip code ranges from mobile homes to multi-million dollar mansions.

    4. Good for your reader who reads Menlobear. That’s Adam Taggart, who founded Wealthion, the offshoot of Chris Martenson’s Peak Prosperity. Great YouTube videos at Wealthion.

    5. The MSM cheered on this latest housing bubble & convinced buyers to purchase at stupid valuations. Only now do they admit the obvious. Years too late

      Of course they did, just like now they’re cheering for a recession so that the FED will pivot. What, did you think they actually cared about human beings or something? If you did, I’ve got some swampland on the moon for sale.

  8. October 2022 Denver Real Estate Market Update | Shift Gives Buyers Opportunites
    Stephanie Fix
    Premiered 13 hours ago #denverrealtor #housingmarket
    It seems like Sellers still think it is a fast market like 2021 and Buyers are confusing this market with 2008 and the Great Recession. Are they correct?

    As we enter the 4th quarter of 2022, we see the Denver Metro Real Estate Market in a much different place than how we started this year with approximately 1,500 Active Listings on the market! We currently have close to 7,700 homes for sale which is 93.5% higher than this time last year. This shift in the market gives Buyers opportunities like they have not seen for over 10 years, as Denver is second only to Boise, ID in price reductions among 97 cities with 58% of homes experiencing a price drop. The rise in Mortgage Interest Rates, coupled with mixed expectations from Buyers and Sellers was evident in September as we only had 3,800 homes go under contract and 4000 homes Sold—- which were about 28% below in both categories from a year ago. The Market is approaching 2 1/2 to 3 months of Inventory, which feels much more like a balanced market. This is ok as what we had in the last 2 years was an anomaly. Back to normal!

    Remember, the good houses in good locations and that show well and are priced correctly are selling in 2-3 weeks. This may be the best opportunity for Buyers that we have seen in a decade. I am experiencing buyers buying for less than asking price and negotiating closing costs as well as inspection items.

    Our real estate market typically sees price reductions this time of the year, so this is not abnormal. The Fall Market is one of the best times to be looking at homes at a great value, and to get into your dream home by the Holidays. Yes, interest rates are higher BUT you are not paying $100,000 over asking, waiving inspection requests and an appraisal.

    https://www.youtube.com/watch?v=lOJtIUecNew

    2:44.

    1. “Yes, interest rates are higher But you are not paying $100,000 over asking, waiving inspection requests and an appraisal.”

      Which is what this Realtor with the bizarre hair was telling her clients to do 6 months ago or they would be priced out forever.

    2. “The Fall Market is one of the best times to be looking at homes at a great value, and to get into your dream home by the Holidays.”

      No matter the season it’s always a great time to buy!

    3. “Denver is second only to Boise, ID in price reductions among 97 cities with 58% of homes experiencing a price drop”

      I want these people to suffer, badly.

      The smugness, the entitlement, and they way these people vote, I wish them nothing but pain.

      1. The smugness, the entitlement, and they way these people vote, I wish them nothing but pain.

        As long as they can pay the monthly nut they will shrug and tell you that prices will start rising again eventually.

        And let us not forget what happened last time: in as little as 2-3 years after being foreclosed, many boomeranged and bought another shack, even with the foreclosure still on their credit record.

      2. The smugness, the entitlement, and they way these people vote, I wish them nothing but pain.

        I’m with you, brother.

      3. The demographic distribution is changing, and it’s not getting any better for the top heavy boomer population carrying debt.

    4. Shift Gives Buyers Opportunites

      Hardly. Prices are so incredibly delusional right now that anybody who purchases, no matter the price, will be signing up for their own financial suicide.

  10. The Financial Times
    Eurozone economy
    Eurozone business activity slides faster than feared
    October PMI shows biggest contraction in 2 years and adds to signs region is heading for recession
    The body shell of an all-electric Porsche Taycan luxury car in an overhead conveyor cradle on a factory production line
    Manufacturers have reported a fifth consecutive decline in factory output
    Martin Arnold in Frankfurt 5 hours ago

    Business activity in the eurozone has suffered its biggest contraction for almost two years, adding to signs that the bloc is entering a recession as prices rise and output plummets across the economy.

    S&P Global’s flash eurozone composite purchasing managers’ index, a key gauge of business conditions for the manufacturing and services sector, fell 1 point to 47.1, figures out on Monday showed. That is its lowest level since November 2020 and the fourth consecutive month below the crucial 50 mark separating growth from contraction.

    “The eurozone economy looks set to contract in the fourth quarter given the steepening loss of output and deteriorating demand picture seen in October,” said Chris Williamson, chief business economist at S&P Global, adding that a recession looked “increasingly inevitable”.
    …

    1. From the comments:

      “My favorite is the Bayonet and Blast, simply wonderful.”

      Have to agree. There was something just savage about that. The sound was awesome.

  12. “…the median home price in Stockton is $581,725, a 7.7% decrease from home prices in June.”

    $600,000 in Stockton, one of the armpits of California. The median income is probably around $60,000 per HH. Shacks in this cesspool at 10x income. This asinine dynamic happened all of the country due to artificially low interest rates, Fed MBS BS, and trillions of dollars injected into the economy in the name of “stimulus.”

    1. Stockton, Modesto, Merced, Manteca, Turlock, Madera – all of those places are hell on earth. Oh, and Stockton had a serial killer hunting people lately. Fortunately, they caught him, but unfortunately after he killed 6 or something.

      2. Cwb Chicago had an article with convincing evidence that same serial Killer was active in Chicago and killed a few people in here before moving to Stockton. Walk funny walk captures in cctv videos.

    1. Democrat Party is the groomer party.

      How old was Ashley Biden when Joe stopped bringing her into the shower with her?

      Her diary called them “inappropriate showers” so she was old enough to know that something wrong was happening.

      Her diary also said that these showers contributed to her becoming sexually promiscuous at an early age.

      And globalists expect us to believe this pedophile and probable rapist got 81 million votes?

    1. The 2020 election was stolen.

      What’s really sad about this part of Region VIII is that Pedo Joe actually won Colorado by 13 points, without stealing any votes.

      The City / County of Denver voted for this pedophile groper and sniffer by almost 80%.

      1. Unfortunately the lion’s share of state voters live in the Denver metro area. And even in the well manicured, higher income and lily white suburbs there are plenty who will always vote Dem. As long as those people have their high paying Corporate America jobs, then all is fine as far as they are concerned.

        Some say Colorado has turned into Clownifornia. I would say it’s turned into Minnesota, we’re just missing the Somalians.

        1. Ca transplant here. Wife and I’ll be voting all red come next week. Some of us don’t drink the koolaid.

        1. I predicted the same long ago. Cheating in election is second nature to dems and their operatives. They will do everything. With that said they will lose the house and keep the senate. And most importantly nothing will change from repubs in congress….expect another 2 years like last 2 years.

          One more thing I expect dems to pass all kinds of crazy laws between Nov 9 and Jan 2.

        2. Did the Epoch Times offer a strategy on how they were going to do this? It’s one thing to concentrate your 2000 mules in a few blue counties, unafraid and united in their hatred of one man. But I still don’t think they can get it together for dozens of Congressional districts, knowing that they’re being watched this time.

          BTW, lib radio station WTOP is airing stories on “talk of possible” voter intimidation already.

          1. BTW, lib radio station WTOP is airing stories on “talk of possible” voter intimidation already.

            How can you be intimidated if you can mail your ballot in anonymously or drop it off at a collection place?

          3. ‘It’s one thing to concentrate your 2000 mules in a few blue counties…I still don’t think they can get it together for dozens of Congressional districts’

            Good point.

      3. After seeing what happened in 2020, I have my doubts that D+60 or greater districts are even possible. It’s in these districts they hide the extra Democrat votes because everyone just accepts that *everyone* votes for Biden. There’s all these D+60,70,80 and D+90 areas but the red areas are never that red. That’s how they steal the election. Like the 2016 audit of Detroit showed all the fake fraudulent votes so they stopped counting.

        https://patch.com/michigan/detroit/detroit-2016-election-issues-human-error-31-michiganders-voted-twice-audit

  16. Scarbro and the brainwashed commenters are the shocking part of this.

    Trump Voters In Focus Group Say He Couldn’t Have Stopped Jan. 6 Violence

    Oct 24, 2022

    In a focus group led by Elise Jordan, Pittsburgh-area Trump voters weigh in on the events of January 6, why they say Trump could not have stopped the violence on January 6 and House Speaker Pelosi on January 6.

    https://youtu.be/6jbaUt-lla4

      1. My favorite comment was the one about the 300 protestors arrested at the senate building during the October 4th 2018 kavanaugh confirmation? Wait, that was not mentioned now was it?

        1. I lead 3 software development teams in a large financial enterprise. I expect most of my team to be from the likes of Accenture/Tata, etc. by end of 2023.

          Even the H1B will be replaced. Oh the irony….

    1. I dropped off my ballot yesterday.

      Joe O’Dea is pretty meh, but in the rare chance he wins a Senate seat maybe he’ll block some of the Democrat Party lunacy.

    2. Unique digital visitors to the Washington Post:

      May 2020 — 100 million
      June 2020 — 101 million
      July 2020 — 90 million
      August 2020 — 104
      September 2020 — 91
      October 2020 — 92
      November 2020 — 114
      December 2020 — 93
      January 2021 — 111
      February 2021 — 82.5
      March 2021 88
      April 2021 — 77
      May 2021 — 75
      August 2021 — 79
      December 2021 — 71
      February 2022 — 86.8
      April 2022 — 61
      May 2022 — 65
      July 2022 – 63
      August 2022 — 68

      Anyone notice a pattern here?

      https://www.washingtonpost.com/public-relations/audience-traffic/

  25. The Columbo crime family has been accused of labor racketeering, extortion and money laundering the but Columbo crime family itself has disputed that, saying in an official statement that the accusations are not true.

    Kari Lake Claims There’s a ‘Lot of Corruption’ in Electoral System, Suggests She’d Restrict Early Voting

    Mon, October 24, 2022

    And while Lake claimed to ABC that some 740,000 ballots cast in Maricopa County in 2020 had “no chain of custody,” the county itself has disputed that, saying in an official statement that the ballots were always secure.

    https://www.yahoo.com/amphtml/entertainment/kari-lake-claims-theres-lot-190801730.html

    1. Election ‘Safety’ Grants May Have Swung Arizona to Biden, Report Finds

      Fred Lucas / @FredLucasWH / March 23, 2021

      About 60% of Arizona’s 15 counties received the Zuckerberg grants, but more than half of the money—$2.9 million—went to Maricopa County, the state’s largest jurisdiction and also the fourth-most populous U.S. county, according to the Foundation for Government Accountability report.

      In final official results in Arizona, Biden got 1.67 million votes or 49.4% to win the state’s 11 electoral votes; Trump got 1.66 million votes or 49.1%.

      Biden won five of the state’s 15 counties Nov. 3. In four of the Biden-carried counties that received the grants, the number of Democratic voters increased by 36% or more.

      https://www.dailysignal.com/2021/03/23/election-safety-grants-may-have-swung-arizona-to-biden-report-finds/

  27. Article I am about to post has a GREAT figure to illustrate how hosed housing HODLers are right now.

  31. Marco Rubio Volunteer Viciously Attacked by Assailants Who Said Republicans Weren’t Allowed in Their Neighborhood

    HANNAH BLEAU
    24 Oct 2022

    A volunteer for Sen. Marco Rubio (R-FL) was brutally attacked while canvassing for the campaign in Hialeah, Florida, leaving him with a broken jaw and internal bleeding.

    According to the senator, who is facing off against Democrat Rep. Val Demings (D-FL) in roughly two weeks, four individuals attacked the canvasser, allegedly telling him that Republicans were not allowed in their neighborhood. The man, who will also require facial reconstruction surgery, was wearing a shirt supporting Rubio and hat supporting Gov. Ron DeSantis (R

    https://www.breitbart.com/politics/2022/10/24/marco-rubio-volunteer-viciously-attacked-assailants-republicans-werent-allowed-neighborhood/

    @marcorubio

    US Senate candidate, FL
    Last night one of our canvassers wearing my T-shirt and a Desantis hat was brutally attacked by 4 animals who told him Republicans weren’t allowed in their neighborhood in #Hialeah #Florida

    He suffered internal bleeding, a broken jaw & will need facial reconstructive surgery

    The following media includes potentially sensitive content.

    https://twitter.com/marcorubio/status/1584564895605198849?s=20&t=pFwLcxHXumN4PiTkgFD2qw

    1. Reuters
      GLOBAL MARKETS-Asian stocks ease to 2-1/2-year lows, pound lifted by Sunak’s victory
      Anshuman Daga
      Mon, October 24, 2022 at 7:48 PM·3 min read
      By Anshuman Daga

      SINGAPORE, Oct 25 (Reuters) – Asian equities fell to new 2-1/2-year lows on Tuesday as early gains inspired by a rally on Wall Street on hopes the Federal Reserve could be nearing the end of aggressive rate increases were offset by weakness in Chinese shares and the yuan.

      The U.S. dollar eased against major peers, while the sterling took aim at this month’s highs after Rishi Sunak was set to become Britain’s next prime minister, seeking to restore stability to a country reeling from years of political and economic turmoil.

      Sterling strengthened 0.3% to $1.13170, heading toward the high this month of $1.1493 from Oct. 5.

      Equities were mixed in Asia, with Japan’s advancing 0.7% and South Korea rising 0.3% but Taiwan was down 0.7% and Hong Kong shed 0.6%.

      MSCI’s broadest index of Asia-Pacific shares lost 0.4% to 428.2 after dipping to 427.4 , the lowest since April 2020.

      ING economists noted widespread weakness in the Purchasing Managers’ Index (PMI) published on Monday across the developed markets. But they said that “perhaps the sharp decline in the U.S. service sector PMI is a silver lining in this bad news if it means slower Fed hikes and perhaps a lower peak Fed funds rate?”
      …
      https://www.yahoo.com/lifestyle/global-markets-asian-stocks-ease-024843955.html

    2. The Financial Times.
      Chinese equities
      China bulls hammered by stock rout as Xi Jinping consolidates power
      Tiger Global and Baillie Gifford among investors of companies hit by Monday’s market tumble
      A man walks past an electronic billboard displaying the Hang Seng index
      An index of US-listed shares in Chinese companies fell 14.4% on Monday, its largest one-day decline on record
      Antoine Gara, Ortenca Aliaj and Eric Platt in New York
      3 hours ago

      Chinese stocks popular with big fund managers have been hammered by a significant sell-off following confirmation of President Xi Jinping’s third term in power, suggesting billions of dollars of losses for those who stuck by their portfolios.

      The Nasdaq Golden Dragon index, which tracks US-listed shares in Chinese companies, shed 14.4 per cent on Monday in its largest one-day fall on record, bringing its decline to about 50 per cent this year. Stocks such as Alibaba, JD.com and Pinduoduo all tumbled.

      Hong Kong’s benchmark Hang Seng index suffered its biggest single-day drop since November 2008 on Monday. It declined as much as 1.6 per cent in early trading on Tuesday, while China’s CSI 300 fell as much as 1 per cent, before they pared their losses.

      Chase Coleman’s hedge fund Tiger Global, Edinburgh-based investment group Baillie Gifford and a group tied to Berkshire Hathaway vice-chair Charlie Munger are among investors with large holdings of Chinese stocks.

      The top position in Tiger Global’s public stock portfolio as of June 30 was JD.com, according to the most recent regulatory filings available. The Beijing-based logistics group closed down more than 13 per cent on Monday.

      Tiger’s more than 30mn shares in JD.com were worth about $2bn as of June 30, a stake that — if maintained — would have lost more than $800mn in value since, including a drop of $168mn on Monday alone.

      The New York-based hedge fund has boosted some Chinese investments this year, adding jobs website Kanzhun and electric car maker Li Auto to the leading 10 positions in its public equities portfolio at mid-year. Kanzhun fell 23 per cent and Li Auto dropped 17 per cent on Monday. Tiger declined to comment.

      China’s growth rate was well below Beijing’s annual target of 5.5 per cent in the third quarter, according to data released on Monday, while Xi secured an unprecedented third term as party leader. The news fuelled concerns about the future of the country’s big tech groups following a regulatory crackdown on the sector under Xi.
      …

    3. Hong Kong stocks plunge 6% as fears about Xi’s third term trump China GDP data
      By Laura He, CNN Business
      Updated 3:12 AM EDT, Tue October 25, 2022

      Hong Kong stocks had their worst day since the 2008 global financial crisis, just a day after Chinese leader Xi Jinping secured his iron grip on power at a major political gathering.

      Foreign investors spooked by the outcome of the Communist Party’s leadership reshuffle dumped Chinese equities and the yuan despite the release of stronger-than-expected GDP data. They’re worried that Xi’s tightening grip on power will lead to the continuation of Beijing’s existing policies and further dent the economy.

      Hong Kong’s benchmark Hang Seng (HSI) Index plunged 6.4% on Monday, marking its biggest daily drop since November 2008. The index closed at its lowest level since April 2009.

      The Chinese yuan weakened sharply, hitting a fresh 14-year low against the US dollar on the onshore market. On the offshore market, where it can trade more freely, the currency tumbled 0.8%, hovering near its weakest level on record, even as the Chinese economy grew 3.9% in the third quarter from a year ago, according to the National Bureau of Statistics. Economists polled by Reuters had expected growth of 3.4%.

      The sharp sell-off came one day after the ruling Communist Party unveiled its new leadership for the next five years. In addition to securing an unprecedented third term as party chief, Xi packed his new leadership team with staunch loyalists.
      …
      https://www.cnn.com/2022/10/23/economy/china-gdp-released-xi-third-term-stock-market-intl-hnk/index.html

  33. Will the Fed’s War on Inflation result in collateral damage of 10%+ mortgage rates in 2023?

    It should be interesting to watch.

    1. Are Mortgage Rates Going Above 10% In 2023?
      by AJ Fabino, Benzinga Staff Writer
      October 24, 2022 12:56 PM | 2 min read

      Mortgage rates tend to rise when the Federal Reserve increases the Fed Funds rate. It has a gradual trickling effect, though.

      Because of the fed funds rate’s relationship to the 10-year treasury yield, mortgage rates would continue gradually increase even if Fed Chair Jerome Powell and the central bank elected to lock it in place now through 2023.

      To help account for the risk of default, borrowers on mortgages pay a premium above risk-free Treasury rates.
      …

      What Happened: “It’s possible that mortgage rates will hit double digits sometime next year,” Dock David Treece, Benzinga’s Mortgage Lead said on Monday. “But, if they do, it’s almost certainly going to be a by-product of the Fed raising rates to curb general speculation, corporate borrowing and other activities.”

      Thirty-year fixed rates approached 7% on Monday — coming in at 6.94% — the highest since February 2002, according to data issued by Freddie Mac.

      “Mortgage borrowing has already dropped off considerably in light of rate changes so far this year,” Treece continued, “a fact that the Fed is likely keeping in mind when considering additional rate hikes.”

      While the Fed does take buyer activity and the effects of its rate rises into consideration, there are currently no strong signals that U.S. inflation is beginning to decline from a 40-year high.

      Why It Matters: There is a strong likelihood that the Fed will raise interest rates by another 75 basis points at its meeting in November and possibly by the same amount once again in December.

      “The mortgage market may be a victim of rate hikes intended to curb speculation, but if rates do hit 10% next year, it won’t be because the Fed specifically wanted it to happen,” Treece noted.
      …
      https://www.benzinga.com/markets/commodities/22/10/29382059/are-mortgage-rates-going-above-10-in-2023

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